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Poland continues to prepare for the construction of the atom with the Koreans despite the arbitration involving the KHNP and Westinghouse. Seoul guarantees no problems. BiznesAlert.pl’s interlocutors are counting on a settlement, but the Polish companies are more concerned about the National Energy Security.
Korea’s KHNP confirmed in a comment for BiznesAlert.pl that talks with the American Westinghouse about whether it can transfer the technology of the APR1400 reactor to the Polish side interested in building two to four blocks of this type in Pątnów failed and the case went to arbitration. The Korean Economic Daily has reported on this.
“It is true that the arbitration process conducted by the Korean Commercial Arbitration Board (KCAB) has been resumed and an arbitration tribunal has been established,” the KHNP press office said in response to questions from BiznesAlert.pl. “KHNP will actively respond to the dispute and will make every effort to ensure that the Polish nuclear power plant construction project proceeds without interference,” the Office confirmed.
Representatives from government circles and companies involved in the Pątnów project confirm that they have received such guarantees from the Koreans. Polska Grupa Energetyczna and ZE PAK have created a joint company PGE PAK Energia Jądrowa. “We are doing our part,” the Poles say.
Meanwhile, the arbitration dispute over the APR1400 technology does not rule out a settlement in the event of a breakthrough. It’s about the technology that the Americans passed on through Combustion Engineering to the Koreans. Currently, this US company belongs to Westinghouse, which maintains that the transfer of technology to Poland as part of the Pątnów project would need the approval of the US Department of Energy. However, the company refrains from commenting on the arbitration. The Koreans claim that their technology is already fully “koreanized” and independent.
Poland’s President Andrzej Duda was supposed to visit South Korea in August, but the event was postponed due to a hurricane on the penninsula. The parties were supposed to talk about energy, among other things. PGE PAK Energia Jądrowa is counting on an investment agreement with the Korean KHNP. It would like to build two to four APR1400 reactors in Pątnów pod Konin. The first would be ready in 2035. Currently, the Poles are conducting research on the location, which in the past was studied as a potential site where the reactor could stand.
The Polish participants in the nuclear project from Korea are more concerned about the creation of the National Energy Security Agency, which is set to launch on 31 October and take over the coal assets as of 31 December 2023. Thanks to the new Agency energy companies, including Polska Grupa Energetyczna, will get rid of coal assets that make it difficult for them to finance projects due to the European Union taxonomy discouraging banks from cooperating with entities that have coal in their portfolios. ZE PAK will not transfer assets to NABE, but its coal workers wishing to leave will be covered by the social benefits associated with the creation of the Agency, freeing up the funds of this private company. The construction of reactors in Pątnów will require the creation of an appropriate financial model, as in the case of the atom in Pomerania.
Wojciech Jakóbik
